The takeover of Royal Mail by Czech billionaire Daniel Kretinsky is expected to be announced this morning, Sky News understands.
Mr Kretinsky’s company EP Group will buy the postal service from its parent company International Distribution Services (IDS).
The £5.3bn takeover deal had been agreed in May but was subject to a review under national security laws as Royal Mail is considered vital national infrastructure.
Royal Mail’s headquarters, tax base, and corporate structure will remain British for five years. The universal service obligation will also remain.
The government will now retain a “golden share” requiring it to approve major changes.
Royal Mail will also ensure workers receive a 10% share of any dividends paid out to Mr Kretinsky and the formation of a workers group, which will meet monthly with company directors.
This measure requires union approval and ratification and so will not be announced on Monday.
The 49-year-old Mr Kretinsky is ranked 33rd on The Sunday Times Rich List with an estimated net worth of £6bn – up £2bn since 2023.
In 2021 he bought a 27% stake in West Ham United – a deal worth £150m.
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